Mackenzie Financial Corp Lowers Stock Position in Ferguson plc (NASDAQ:FERG)

Key Points

• Mackenzie Financial Corp reduced its stake in Ferguson plc by 95.2%, selling 688,137 shares and leaving it with only 34,609 shares valued at $5,545,000 as of the latest SEC filing.
• Wall Street analysts have given Ferguson plc a consensus rating of "Moderate Buy", with the average price target set at $220.64, and several firms have recently increased their price targets significantly.
• Ferguson announced a quarterly dividend of $0.83 per share, representing a 1.5% yield, with the dividend payout ratio currently at 41.40%.

Mackenzie Financial Corp lessened its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 95.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,609 shares of the company's stock after selling 688,137 shares during the quarter. Mackenzie Financial Corp's holdings in Ferguson were worth $5,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Grove Bank & Trust boosted its stake in Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after purchasing an additional 141 shares during the last quarter. Whipplewood Advisors LLC boosted its position in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. LGT Financial Advisors LLC boosted its position in shares of Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after acquiring an additional 102 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Ferguson during the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Up 1.4%

Shares of FERG stock traded up $3.19 during trading hours on Monday, reaching $225.34. 715,235 shares of the stock were exchanged, compared to its average volume of 1,759,918. The business's fifty day moving average is $214.64 and its two-hundred day moving average is $186.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $228.80. The firm has a market capitalization of $44.43 billion, a P/E ratio of 27.05, a P/E/G ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. Ferguson's revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $2.32 EPS. As a group, research analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson's dividend payout ratio (DPR) is 41.40%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price target on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Wells Fargo & Company upped their target price on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Barclays upped their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Oppenheimer upped their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.